“At Coinbase, our first priority is to ensure that we operate the most secure and compliant digital currency exchange in the world.” -Brian Armstrong
When it comes to cryptocurrency exchanges few can compare to the clout, and market percentage that Coinbase has. Coinbase came into the crypto space in 2012 when Brian Armstrong and Fred Ehrsam set out to make a splash in the rising Bitcoin space. They created Coinbase to be the easiest transition point from your bank to crypto. The success has come fast and they continue to see exponential growth through today.
Coinbase works as a “Bitcoin/ Crypto bank” allowing customers to buy and sell crypto currency via bank transfers. This exchange has had massive success because they have built their business model after a traditional financial institution. This bridging effect has made Coinbase one of the largest financial institutions in the world today, and a force to be reckoned as they have helped carry cryptocurrency to the forefront of modern finance. The sky’s the limit for this exchange.
Coinbase has a short life span, but it’s only just beginning. 2017 was the year the company saw it’s most explosive growth being the number 1 downloaded app on the Apple app store. Since then the exchange has become a crypto super star, tearing onto the mainstream. Coinbase is set to go public in a matter of weeks as the first publicly traded company whose soul business model works around cryptocurrency.
Users who do use Coinbase like myself see an easy smooth process when converting and moving crypto around the exchange. There is even a wallet app for you to move your money off the exchange and back on; just like that. This wallet is also hooked up to a network that connects users wallets directly with DAPPs making exploring DeFi projects so much more smooth. This type of wallet technology will pave the way for easier DAPP adoption and continue to see the growth that DeFi has recently seen adding over 5million new DeFi customers since the beginning of the year.
Coinbase has changed the financial landscape forever, and at the same time they have made themselves the compliance darling that governments are willing to work with on this no finance front. We use their platform for some of our crypto needs and really like seeing them work with regulators. Coinbase going public gives everyone in the crypto space a sigh of relief from a legal stand point for now, we will have to continue to watch what the government does with this asset class moving forward. Thanks for reading and emailing us with any questions or comments!
